March 16th, 2018, VANCOUVER, B.C. Berkwood Resources Ltd. (TSX-V: BKR, FSE: BK2, WKN: A110N3) (“Berkwood” or the “Company”) is pleased to announce that it has successfully completed its 9-hole Phase 3 definition drilling program on Zone 1 at the Company’s 100% owned Lac Gueret South Project (refer NR of March 5th). The Program was designed to constrain the southwestern and southern margins of mineralization, and to probe aspects of the structural (fold) model being developed for western Zone 1. Drilling continued to intersect substantial graphite (“Cgr”), with all nine holes hitting graphite and eight of the holes returning significant intercepts of Cgr.

“So we begin the exciting but painstaking work required to unravel the structural and geological disposition of the Lac Gueret South Zone 1 graphite deposit, as Berkwood endeavours to chart a focussed and efficient program to define the potential for an economically mineable resource there. Field crews have been on site at Lac Gueret since early February to perform detailed structural logging and analysis of previous drill core – and we are increasing our structural capabilities through new collaboration with Terrane Geosciences. We are making progress in stages, and continue with each successive Phase to build on the great results we have enjoyed since discovery,” states Tom Yingling, President and CEO. “Critically, the exploration potential for a significant graphite deposit continues to be supported by the Phase 3 campaign”.

The 1,500m program continued to use oriented core techniques, and Tony Gilman of Terrane Geosciences was stationed at site at the start of Phase 3 to review structures in Phase 2 and 3 oriented core and to train the field team for detailed structural data collection. Terrane Geosciences will be merging these structural data with existing geology logs in preparation for Phase 4 work planning.

The continued testing of the western end of Zone 1 supports a model for the graphite horizons probably being folded at the western end of the geophysical anomaly. Several other examples of similar folding in the basement rocks that are observed within an 8-kilometer radius of the deposit show that arcuate fold patterns on the scale of the Zone 1 occurrence are common in the area. Further drill testing is required to continue to define the continuity and structural disposition of the mineralised intervals. In addition to drilling, and when snow conditions permit, the Company is considering an in-hole / intra-hole electromagnetic survey (mise a la masse, “MALM”) that charges specific graphite horizons which can then be traced between holes and on the surface.

Sampling: Some 258 sawn core samples from Phase 3 drilling are to be shipped to MS Analytical Laboratories in Langley, BC for treatment under the same analytical procedures applied to the samples from previous programs. Of the 258 samples, 201 were graphite-bearing rock; 47 were bracket (boundary) samples with very low to no observed graphite; and 10 were field-introduced QA/QC materials including duplicate and blank samples. No certified reference standards were inserted in the field. The laboratory routinely uses a variety of graphite and sulphide standards whose grades and matrix mineralogy are similar to the sampled materials. Each sample during both the crushing and pulverizing preparation phases will be subjected to quartz sand cleaning between samples to reduce any potential for cross-contamination. Assay results for Phase 3 samples are expected after the middle of April.

Ongoing mineral characterization: Berkwood has retained the services of Met-Solve Laboratories Inc. of Langley, British Columbia to initiate mineral processing tests on a suite of graphite mineral samples. This work is required for metallurgical testing for process design following the positive initial flake sizing results announced on March 8th, 2018, when the Company announced that testing had revealed that a large portion of the graphite flakes in a representative suite of samples are coarse large flake (20 mesh to 100 mesh) and easily concentrated by simple inverse gravity process (the light portion being the valuable product), with only a small percentage of the graphite being finer than 100 mesh (100 mesh). First results should be available around mid-May, 2018.

Lac Gueret South Zone 1

Lac Gueret South is located in Cote Nord, Quebec, a three-hour drive from Baie-Comeau in an area with very good infrastructure. The Project lies directly south of Mason Graphite’s (TSX-LLG) advanced Lac Gueret Project. Mason is developing one of the largest medium to high-grade graphite deposits in the world.

Including the Phase 3 campaign, the Company has drilled 27 holes on Zone 1 that totals 4,006m. The Company is pleased to announce it has intersected visual Graphite in every hole drilled to date, with significant Cgr intercepts being observed in 26 holes. Success in these drill programs confirms that a significant component of the distinct electromagnetic conductors that occur over a two kilometer strike length and 50 meters to 600 meters in width as defined by airborne EM geophysics (see the Berkwood news release dated February 10, 2015) includes graphite mineralization.

To view a virtual reality video of the autumn Phase 1 Zone 1 drill program as well as the most recent winter Phase 2 drill program, please follow the link at the bottom of our home page at: http://www.berkwoodresources.com .

Edward Lyons PGeo (BC, QC, NL) is a Qualified Person under the definition of Canadian National Instrument 43-101, and has approved the technical information in this news release. Ed has worked extensively on the Lac Gueret Property, now owned by Mason, and neighbouring graphite properties since 2000.

About the Company: Berkwood is engaged in exploration for the commodities that enable the modern revolution in essential technologies. These technologies are dependent upon the ethical mining and supply of naturally occurring elements and minerals that enhance the performance of energy storage systems and permit the development and miniaturization of new electronics and structural components for the new suite of innovative tools. The Company is led by a team with collectively over 100 years experience and whose members have been involved with the discovery of several producing mines.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Disclaimer for Forward-Looking Information:

Certain statements in this release are forward-looking statements, which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect.